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One of the most annoying aspects of modern life for individuals can be managing your money and dealing with bills — sending money where it needs to be and making sure bills get paid on time. For business owners, it’s important to get paid on time, and accepting credit cards for all of your transactions can get expensive (those fees add up). If you could come up with a way to make it easier for people to pay electronically and for businesses to get paid quickly and efficiently, you could probably make a lot of money.

That’s exactly what Official Payments Holdings (OPAY) has done … and the company is positioned to make investors a lot of money by making life easier for individuals and businesses.

Official Payments works with direct billers across the country. Clients include the IRS, 27 states, more than 350 colleges and universities, utilities, and municipalities in all 50 states. The company makes its money by making it easier for consumers to pay their bills and helping businesses and government agencies get paid quicker and cheaper. It’s a win-win — and it’s making money hand over fist.

The company has been growing very rapidly. Profits have grown by about 15% over the past five years, and the company is seeing explosive earnings growth amid an improving economy — 180% growth in the most recent quarter, for example. Official Payments processed more than $18 billion of payments in the quarter, an 18% year-over-year increase.

The company recently introduced electronic bill presentment, and has signed three bill presentment clients with a dozen more serious prospects in the pipeline. The ability to deliver bills via text and email should boost adoption rates while providing additional revenue for delivering bills and selling advertisements delivered along with the billing notice. The company is positioned to keep growing as more businesses and consumers alike turn to electronic payment options.